Mufin Green Finance Completes ₹324 Crore Preferential Allotment of Equity Shares and Warrants

Mufin Green Finance Limited has successfully completed a significant preferential allotment, raising capital through the issuance of equity shares and convertible warrants. The Committee of Directors approved the allotment on March 4, 2026, following the necessary regulatory approvals and shareholder consent obtained in November 2025. Allotment Details The company allotted a total of 2,49,30,765 equity shares and 76,53,061 warrants at an issue price of ₹98 per share, including a premium of ₹97 over the face value of ₹1 each. The allotment was conducted in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013. Parameter: Details Equity Shares Allotted: 2,49,30,765 Warrants Allotted: 76,53,061 Issue Price: ₹98 per share Face Value: ₹1 per share Premium: ₹97 per share Capital Structure Impact Post-allotment, the company's paid-up equity share capital has increased substantially. The capital structure transformation reflects the successful fundraising initiative and expansion of the shareholder base. Metric: Pre-Allotment Post-Allotment Paid-up Capital: ₹17,32,31,423 ₹19,81,62,188 Number of Shares: 17,32,31,423 19,81,62,188 Share Face Value: ₹1 each ₹1 each Investor Composition The preferential allotment attracted a diverse group of investors, with equity shares distributed among 130 non-promoter entities and individuals. The largest allocations went to MMG Advisors LLP (25,58,853 shares), Sandeep Kapadia (16,37,666 shares), and Sageone Flagship Growth OE Fund (15,35,312 shares). The warrants were exclusively allotted to promoter entity Hindon Mercantile Limited. Major Equity Share Allottees Investor: Category Shares Allotted MMG Advisors LLP: Non-promoter 25,58,853 Sandeep Kapadia: Non-promoter 16,37,666 Sageone Flagship Growth OE Fund: Non-promoter 15,35,312 Cullinan Opprts Fund VCC: Non-promoter 10,23,541 Veloce Opportunities Fund II: Non-promoter 10,23,541 Warrant Conversion Terms The 76,53,061 warrants allotted to Hindon Mercantile Limited carry specific conversion terms and conditions. Each warrant provides the right to subscribe to one equity share, with flexibility for exercise in tranches during the specified period. Key Warrant Features: Conversion period: 18 months from allotment date Exercise ratio: 1 warrant = 1 equity share Initial payment: 25% of warrant issue price received Balance payment: 75% due upon exercise Forfeiture clause: Unexercised warrants lapse after 18 months Promoter Holding Impact Hindon Mercantile Limited, the promoter entity, will see its shareholding percentage change upon warrant conversion. Pre-issue, the entity held 88,245,612 shares representing 50.94% stake. Post-conversion of all warrants, the holding would increase to 95,898,673 shares, representing 46.59% on a diluted basis. Regulatory Compliance The allotment was conducted following comprehensive regulatory procedures, including board approval on November 6, 2025, and extraordinary general meeting approval on November 29, 2025. The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The newly allotted equity shares will rank pari-passu in all respects with the existing equity shares of the company, ensuring equal rights and privileges for all shareholders. Mufin Green Finance Limited has issued a clarification regarding its earlier press release dated March 01, 2026, concerning empanelment with the Government of Assam for providing instant loan services to government employees. The clarification was filed on March 03, 2026, under Regulation 30 of SEBI listing requirements. Current Status of Empanelment The company clarified that the Assam Society for Comprehensive Financial Management System has issued only a Letter of Intent (LoI) to the company's partner InstaPe Synergies Pvt Ltd for provisional empanelment. The arrangement involves facilitation of Earned Salary Advance and Salary-linked Credit facilities to regular Government employees of Assam through a consortium arrangement with InstaPe. Parameter: Current Status Document Received: Letter of Intent (LoI) Partner Entity: InstaPe Synergies Pvt Ltd Empanelment Type: Provisional through consortium Services Covered: Earned Salary Advance and Salary-linked Credit Target Beneficiaries: Regular Government employees of Assam Pending Requirements for Full Empanelment The execution of the prescribed Memorandum of Understanding (MoU) remains contingent upon several technical and operational milestones. These requirements include successful end-to-end technical integration with State FMIS (FinAssam/IFMIS), completion of User Acceptance Testing, and confirmation of operational readiness for live launch by the Finance Department. Technical Integration Progress The technical integration process with the State Financial Management Information System (FinAssam/IFMIS) is currently underway. Upon successful execution of the MoU, the company has committed to making appropriate disclosure and press release in accordance with applicable regulatory requirements. Milestone: Status Technical Integration: In Progress User Acceptance Testing: Pending Operational Readiness: Pending Confirmation MoU Execution: Awaiting Prerequisites Regulatory Compliance The clarification was signed by Mayank Pratap Singh, Company Secretary & Compliance Officer, and submitted to both BSE Limited and National Stock Exchange of India Limited. 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